Canary Capital files for a spot XRP exchange-traded fund with the SEC
Powered by @unfolded- Canary Capital has filed for a spot XRP exchange-traded fund (ETF) with the SEC, following a similar move by Bitwise last week.
- The ETF aims to provide investors with access to XRP through traditional brokerage accounts, minimizing barriers and risks associated with direct acquisition.
- Founder Steven McClurg noted a more favorable regulatory environment and increasing investor demand for cryptocurrencies beyond Bitcoin and Ethereum.
- The SEC has not previously approved a spot XRP ETF and is currently involved in a legal dispute with Ripple over XRP's classification as an unregistered security.